MUSCAT: The Gross Domestic Product (GDP) rate at current prices of the Sultanate of Oman increased by 30.4 per cent to reach RO 32 billion until the end of September 2022, compared to the same period in 2021.
This came in the first edition of the ‘Quarterly National Accounts Indicators’ report issued by the National Centre for Statistics and Information (NCSI). It reviews the most important indicators at current and constant prices, the growth rates of economic activities, and the most important indicators supporting an increase in gross domestic product until the end of September 2022.
The report attributed this rise to the high growth rate of oil activities until the end of September 2022 at current prices, by 72.5 per cent compared to the same period in 2021, which is the highest among economic activities, in addition to the high growth rate in manufacturing activities, achieving 65.6 per cent during the same period.
The report stated that the value of the gross domestic product (GDP) at constant prices of the Sultanate of Oman until the end of September 2022 recorded an increase of 4.5 per cent to reach RO 26 billion, compared to the same period in 2021.
This increase is mainly attributed to the growth of oil activities until the end of September 2022 by 12 per cent at constant prices, which is considered the highest among economic activities, in addition to the increase in the growth rate of service activities by 5 per cent.
Meanwhile, the growth rate of construction activity decreased by 2.2 per cent until the end of September 2022 at current prices compared to the same period in 2021. — ONA
Oman Observer is now on the WhatsApp channel. Click here
